Policy Minimums Sample Clauses
The "Policy Minimums" clause establishes the lowest acceptable limits or standards for insurance coverage that a party must maintain under an agreement. Typically, this clause specifies the minimum amounts of liability, property, or other types of insurance required, ensuring that all parties are adequately protected against potential risks. By setting these baseline requirements, the clause helps prevent underinsurance and allocates risk appropriately, ensuring that all parties have sufficient financial protection in the event of a claim.
Policy Minimums. General Liability- Including Contractual Liability and Completed Operations $2,000,000 Each Occurrence $5,000,000 Aggregate (can include Umbrella Liability) Automobile Liability- Including Hired and Non-owned Vehicles $2,000,000 Combined Single Limit for Bodily Injury and Property Damage (can include Umbrella Liability) Workers’ Compensation As required by each state in which Wholesaler offers Products and Services. Employers Liability $1,000,000 Each Accident $1,000,000 Each Employee- Disease $1,000,000 Policy Limit- Disease Primary Commercial Blanket Bond $100,000 Each Employee Umbrella Liability $10,000,000 Each Occurrence $10,000,000 Aggregate